© Dukascopy Bank SA
- TD Securities (based on FXStreet)
Pair's Outlook
The USD/CAD failed to appreciate, posting a 76-pip loss by day's end. Volatility did stretch lower, namely to the 1.3150 support cluster, which prevented the pair from edging lower. Technical studies keep showing bullish signals, suggesting the Greenback is to outperform the Loonie today. Immediate resistance is represented by the weekly pivot point at 1.3246, but a stronger cluster rests around 1.3350, namely the monthly and weekly R1s and the Bollinger band. However, the US Dollar struggled to climb above the 1.33 major level this week, which might limit today's gains as well.
Traders' Sentiment
The share of bulls now takes up 46% of the market, whereas pending orders are equally divided between the buy and the sell.
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